Dipity
Bank of England Governor Mervyn King said he has an open mind on whether to inject more money into the economy as the UK has only 'just started' along the road to recovery.
Bank of England attacked after a key scheme to kickstart lending to mediumsized businesses has had zero takeup since its launch.
Britain will not escape the savage spending cuts seen elsewhere in Europe says Edmund Conway.
The rate of UK inflation fell more than expected last month dropping to the lowest level in five years as the downturn kept a lid on price pressures.
Profit warnings issued by British companies fell to a sixyear low in the third quarter but Ernst & Young E&Y has warned the lagging consequences of a deep recession are likely to hurt companies...
Lower energy and food prices kept a lid on inflation during August partly offsetting a rise in transport costs.
If there's one thing that really infuriates the City it is Mervyn King's attitude when it transpires that the Bank of England has wrongfooted the markets.
The rate at which jobs are being lost in the American economy appears to be slowing despite potentially conflicting evidence.
The EU is considering a voting structure for its new apparatus of financial regulation that would make it almost impossible for Britain to block measures even if they threaten City.
The Royal Bank of Scotland is to spend up to £300000 on corporate entertaining at Wimbledon despite its bailout by taxpayers.
Banks made virtually no new loans to real estate companies in April and May according to the BoE.
A £20 million London property has been seized in what is understood to be Britain's largest house repossession.
British companies are reporting tentative signs that the severity of the credit crisis could be easing.
Sir Fred Goodwin the former Royal Bank of Scotland boss known as "Fred the Shred" is considering giving up some of his £16.9 million pension pot the bank has said.
New car sales jumped by a fifth in Germany last month after the government offered €2500 £2300 in cash to buyers trading in old vehicles for new ecofriendly models.
Introducing USstyle yellow school buses across Britain would create up to 13000 new jobs according to new research by a group headed by former Home Secretary David Blunkett.
The Association of British Insurers ABI whose members control 15pc of the FTSE 100 has called for a "supervisor of supervisors" in Europe but said that the current UK system should remain intact.
House prices may fall by a further 55pc and there is "real probability" that Britain will be bankrupt investment bank warns.
Sales hit alltime low as homebuyers return to the market but still can't get mortgages the Royal Institution of Chartered Surveyors said.
German minister urges GM Europe to consider declaring Opel its German subsidiary insolvent rather than seek state aid.
UK Government debt investors will be among those hoping for some cheer from the Bank of England today as it is expected to unveil radical new plans to rescue the economy from recession.
Meggitt the British engineering and aerospace group is planning to axe up to 750 jobs as part of a programme to cut by about £50m a year.
Northern Rock will not try to help firsttime buyers as part of a £14 billion package of new mortgage lending.
Investors continue to rush to invest in the classic safehaven.
The Government could be heading for a showdown with Brussels over its insurance scheme for banks' toxic assets.
Some of the high street's best known stores including Oasis Coast and House of Fraser are facing an uncertain future after their parent company became the latest victim of the global financial melt...
The Bank of England is widely predicted to announce a "pointless" 0.5 percentage point reduction in interest rates today that will not help borrowers and will hurt savers experts warned.
Charles Grassley a Republican senator has suggested the software company sack foreign workers before Americans in a protectionist outburst.
The United States economy the world's largest shrank 3.8pc in the final three months of 2008 the biggest fall in 26 years.
More than 50m people worldwide could lose their jobs this year as the global recession intensifies the International Labour Organisation has warned.
Citigroup won't be getting a new corporate jet after pressure from President Barack Obama over how banks are spending government bailout money.
An army of accountants is combing through the books trying to establish just how much the toxic assets of the bailedout banks are actually worth. At stake says the Government is the future of B...
The UK is officially in its worst recession since 1980.
Unemployment is today expected to move close to two million as a report warns that 44pc of companies are laying off temporary and agency employees.
Barclays is under mounting pressure to partake in the latest bail out of the banking system a move that could see it partially owned by the taxpayer.
Business groups have given a cautious welcome to government plans to guarantee up to £21bn of bank loans to small and midtier companies in order to keep credit flowing during the recession.
HSBC's shares tumbled 8pc after an analyst warned that the giant bank may have to raise up to £20bn and halve its dividend.
Just one borrower in arrears on their mortgage prevents banks lending up to 80 new customers the Council of Mortgage Lenders has revealed.
Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began underscoring the collapse in trade.
Retail websites enjoyed a boom time over the Christmas trading period in sharp contrast to the high street according to figures which underline how internet shopping continues to thrive.
Banks have begun cutting interest rates on savings accounts to zero for first time spelling more misery for savers.
Ireland's declining economy has been dealt a further blow after US computer giant Dell announced plans to shift its European manufacturing facility to Poland with the loss of 1900 jobs.
It's going to be a bumpy year ahead so....
2009 will not bring an end to property woes writes Edmund Conway.
The Post Office has enlisted sevenyearold children to help them explain financial terms to their customers.
High street stores saw a stampede of shoppers as millions took advantage of unprecedented price cuts in what retailers described as the busiest Boxing Day sales in memory.
As the market recovers estate agents are going to have to offer a better service.
Zavvi the CD and DVD chain formerly known as Virgin Megastores has crashed into administration threatening over 3400 jobs.
Large swathes of industry are in the middle of a month long shutdown as companies attempt to come to terms with the rapid deterioration in the economy.
Lenders to Mecom the newspaper publisher run by former Mirror Group chief David Montgomery have drafted in a restructuring firm amid growing concerns about its future.
Workers at Woolworths have asked for protection after being attacked and subjected to tirades of abuse by frenzied bargainhunters.
What you and millions of other cashstrapped pensioners could do with this pantomime season is a fairy godmother to wave her magic wand and banish all your financial problems.
The British economy is facing the worst recession in its history Cabinet minister Tessa Jowell has admitted.
Shops extended their cutprices sales even further yesterday in a lastditch bid to win business during one of the toughest Christmas trading periods in living memory.
The City of London's status as a leading global financial centre is under threat unless it enforces a radical set of new proposals business leaders have warned.
Britain's biggest mortgage lender HBOS has this morning issued a notsogentle reminder to shareholders about why it needs £11.5bn of taxpayer money to rebuild its finances and why the merger with Ll...
Homeowners have not benefited fully from sharp reductions in the Bank of England base rate official figures have revealed.
Retailers slashing prices in the run up to Christmas has helped make London cheaper for shoppers and lose its status as one of the world's most expensive cities.
David Cameron the Conservative leader has accused the Government of causing longterm damage to the economy.
It can withstand an attack from atomic weapons but not even a nuclear bunker can escape the effects of the credit crunch.
Middle professionals such as lawyers and hospital consultants are among millions working in the "black market" as the recession bites MPs are set to warn next week.
Of Britain's eight biggest banks just three promised to pass on the cut in full to their customers in a snub to the PM.
Jobs have been lost across the economy with employers ranging from City banks to Government departments announcing plans to cut staff.
PreChristmas sales are more extensive this year than ever before with three quarters of leading retailers offering discounts research show.
Banks will be penalised if they do not offer customers a fair deal under new laws to be announced later.
Car manufacturers have asked the Government for urgent help through the economic downturn to stop the industry collapsing.
House sellers across Britain have been forced to drop their asking prices by an average of £17000 in the last two weeks.
Gordon Brown has admitted that the British Government considered putting VAT up after the next election before deciding to cut it instead in the preBudget report.
The interest payments on the Government's growing mountain of debt are on course to consume almost as much public money as the entire budget for schools in England.
Energy companies which do not cut bills for customers on prepay meters will be forced to by law the Chancellor warned.
The preBudget report has revealed that the clear blue water between the Labour and Conservative parties over the correct response to the economic downturn has just expanded to a clear blue ocean.
The Chancellor announces that Government debt will soar as the country will fall into recession next year.
Chancellor Alistair Darling has been warned by experts that increasing income tax for high earners is 'worse than a waste of time'.
A few months ago Labour could not even find the last chance saloon.
Nearly 100000 households have been put in the wrong council tax banding it has been claimed.
Alistair Darling is to help pay for his spending splurge by making more than £30billion of cuts from Whitehall costs and selling off a series of stateowned household names.
They are sometimes dismissed as a lazy purchase but gift vouchers are experiencing a sales boost this Christmas as shoppers seek out presents which offer better value for friends and family.
Shoppers are being warned that using a store card could cost them almost £2 billion in interest new research revealed today.
A fifth of homes on the market are being sold because the owners can no longer afford to keep up with mortgage payments according to a new survey.
Jobcentres scheduled for closure will be kept open as the Government prepares for major rises in unemployment.
The deteriorating state of Britain's finances is underlined with figures that show the biggest deficit since records began.
A double whammy of the credit crunch and soaring costs means part of Edinburgh's controversial £512million tram network looks set to be kicked into the long grass.
The UK economy will be suffer as a result of insufficient air links for 30 years if proposals to expand Heathrow airport are rejected the head of British Airways has warned.
David Cameron abandoned his commitment to match Labour's public spending plans yesterday after finally admitting that they were "unsustainable" in the current financial crisis.
Every member of the Conservative shadow Cabinet will spend the next few months carefully studying Whitehall budgets to where savings can be made under David Cameron's plans to cut the growth in pub...
The Consumer Price Index the Government's preferred measure of inflation drops from record level of 5.2 per cent to 4.5 per cent.
Car hire firm Avis Europe is to axe 315 jobs mostly in the UK as it warns fullyear profits will not match last year.
The middle are facing a "white collar recession" of falling living standards and unemployment as the economy suffers its worst year since 1980 the Bank of England has warned.
One in three parents is losing sleep and arguing with their spouses about money as the economic crisis worsens according to a report.
The financial crisis will result in tax revenues from City bonuses alone falling by as much as £4bn next year according to one of Britain's most influential economic forecasting firms.
Oxfam is to cut up to 45 jobs as charities experience a drop in donations because of the financial crisis.
PresidentElect Barack Obama has said that the United States was facing the greatest economic challenge of his lifetime adding "we're going to have to act swiftly to resolve it".
FTSE 100 closed down 5.7pc as global stock markets fell sharply on growing fears that the world economy faces a deep and long lasting recession.
The Bank of England's monetary policy committee has cut interest rates by 1.5 per cent to 3 per cent.
Businesses are increasingly taking advice about how to axe many of their workers according to trade bodies who say the impending recession is starting to bite hard.
Homeowners in Australia have been delivered a welcome surprise by the central bank's decision to cut interest rates more than markets expected as it fights a deepening slowdown.
The world's largest manufacturer of luxury cars scraps its profits target as market gets tougher.
Japan's new auto sales fell for a third straight month, led by Toyota Motor Corp. and Nissan Motor Co., as a slowing economy kept buyers out of showrooms.
Ryanair has forecast that its headline air fares will drop by 15 to 20 per cent over the next six months as it fights to cope with the recession.
The bosses of Britain's biggest companies have seen the value of their personal shareholdings plunge by more than £3bn so far this year as the country slides into recession.
Packed in among the wellheeled Halloween revellers in Annabel's the exclusive Mayfair nightclub Amanda Staveley quietly enjoyed celebrations of a different kind on Friday night.
he Bank of Japan cut its benchmark interest rate to 0.3 percent to help stave off a prolonged recession.
Shares in Asia and Europe fell on Friday, heading for their worst month ever, while the low-yielding yen surged as Japan's interest rate cut failed to erase concerns about the deteriorating global ...
BT is expected to cut thousands of jobs worldwide at its Global Services division as the group announced a profit warning, Telegraph.co.uk has learnt.
Sir Martin Sorrell, the chief executive of WPP and noted economic soothsayer, yesterday insisted that the "negativity is overcooked" and the economy is "not heading for Armageddon" despite painting...
The economy shrank July through September, as consumer spending fell by the most in nearly 30 years and businesses pulled back, the government said Thursday in a report that lends weight to widespr...
House prices have fallen for the twelfth month in a row and are now 14.6pc lower than last year, the latest figures from Nationwide show.
The Bank of England did not act fast enough to cut interest rates and may now have consigned the country to a long and painful recession, one of its own leading policymakers has admitted.
Interest rates must be slashed but the Treasury should refrain from cutting taxes in the face of the coming recession, Baron Lawson of Blaby has said.
U.S. stock-index futures fell on concern a move by the Federal Reserve to ease borrowing costs won't be enough to avert a deterioration in the economy.
Consumer confidence dipped to its lowest level on record as Americans reacted with growing pessimism to financial uncertainty and widespread job losses, according to a survey released yesterday.
The FTSE 100 rallied as much as 5pc this morning following a dramatic overnight rally in the US which took the Dow Jones to its second-best day on record.
Sony Corp. said Wednesday its second-quarter net profit fell 72% as consumer demand sagged in the sputtering global economy and the strong yen undermined sales overseas.
Revenues at ITV are set to take a further tumble in November as advertisers scale back despite the Christmas season as consumers feel the pinch.
Business failures have increased by 28pc in the past three months, with banks forcing more firms into insolvency.
The Financial Services Authority has warned that around 310,000 borrowers are behind on mortgage payments reflecting a 13.5% jump since last year and reposssessions have almost doubled.
Global stock indexes rebounded from several days of steep losses Tuesday, with Hong Kong leading the advance.
Iceland's central bank has increased interest rates by a massive 6 percentage points to 18pc, just two weeks after it had eased policy to soften the impact of the country's financial meltdown.
Asian stock markets rebounded in afternoon trading, led by Japan's Nikkei 225 index, as a sharp decline in the yen helped the index.
More than a million homeowners will fall into negative equity as the housing market slump intensifies, the Bank of England warns today.
The leaders of the G7 bloc of economic powers have issued a rare warning that the surge in the Japanese yen has reached "excessive" levels and poses a threat to the stability of the world financial...
The International Monetary Fund may soon lack the money to bail out an ever growing list of countries crumbling across Eastern Europe, Latin America, Africa, and parts of Asia, raising concerns th...
The European Central Bank could move to further cut interest rates at its next meeting, but only if policy makers are satisfied that inflation threats have continued to retreat, ECB President Jean-...
Sales of new homes recorded an unexpected increase in September as median home prices dropped to the lowest level in four years, the Commerce Department reported Monday.
Persimmon, the UK's biggest homebuilder by market value, said prices in the second half will fall twice as fast as predicted earlier and land values will be cut by £600m.
The FTSE 100 fell 5pc, joining sharp falls across Europe and following steep declines in Asia, as investors braced themselves for the first global downturn in more than a decade.
Oil prices fell below $60 a barrel in London, as traders responded to the potential impact of a global recession on energy demand.
GKN, the British car parts maker and aircraft engineer, is to cut jobs and close plants across the world as it issued a profits warning.
Financial forecasters are in a race to call the bottom to the bear market. And just as on the way up, when analysts competed for attention with their forecasts of bigger and bigger gains, the finan...
Stock markets across Asia continued their nervous decline, weighed down by fears of a global recession.
The Reserve Bank of Australia (RBA) has confirmed it bought more Australian dollars today in the second intervention after it entered the foreign exchange market during Friday night's offshore sess...
Stock markets across Asia have continued their nervous decline apart from in Japan where rumours of an enormous government bailout steadied the Nikkei.
The Bank of England may have to cut interest rates to zero if it is to avoid a depression one of the country's leading economists has warned.
The global financial crisis has already spread to the real U.S. economy of retail sales, and will continue to seep northward until Canada falls into a recession, according to a prominent American e...
Highbridge Capital Management, which is majority owned by JP Morgan Chase and has $25bn under management, is axing 10 per cent of its New York-based staff and plans cuts in Europe and Asia. It will...
What were our leaders doing as the credit crisis developed? Posturing and relaxing says Andrew Pierce
This Government has now presided over a bigger devaluation of the pound than was seen under Harold Wilson or James Callaghan after sterling plummeted in the wake of figures confirming the econo...
Wall Street suffered heavily amid the global sell-off as the Dow fell by as much 503 points at one point and pre-trading in all three major markets was temporarily suspended on the 79th anniversary...
Families must prepare themselves for a recession which could be deeper, more painful and longer-lasting than the early 1990s, experts warned after the economy shrank for the first time in 16 years.
A cut in oil output by the Opec producers' group failed to halt the slide in the price of crude, which fell sharply on fears that the global economic crisis will reduce demand.
The Icelandic Government has become the first Western country for 30 years to take an emergency loan from the International Monetary Fund by accepting a £1.3bn bail-out.
Custard, sticky toffee puddings and other comfort food is making a comeback, as consumers try to ward off the economic crisis with nursery fare from their childhood.
Stock markets plunged around the world as the effects of the global financial crisis intensified.
The financial crisis gripping world markets is "the worst in human history" and we are only just beginning to feel the fallout, the Deputy Governor of the Bank of England has warned.
French president Nicolas Sarkozy has pledged "massive" state intervention to support his country's industry, defiantly ignoring EU competition rules in the biggest shift to dirigiste in 40 years.
The UK economy shrank by 0.5 per cent between July and September in the first quarter of negative growth for 16 years official figures show.
Sterling hurtled through the 1.60 for the first time in five years this morning ahead of official figures that are set to show that Britain is near its first recession since the early 1990s.
Goldman Sachs is cutting 10pc of 33,000-strong global workforce as a result of the continued downturn in a number of its core banking markets.
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